Books & Records
New Form ADV, Disclosure Rules Already Raising Concerns For Advisors
The SEC recently cracked down on one case of an advisor faking his Form ADV in such a way that not even the new "plain language" system would have caught. Are the new disclosure rules working?
Wells Fargo Slapped For Sluggish Client Communications, Advisor Record Updates
The latest FINRA complaint against Wells Fargo is about more than tardy delivery of fund prospectus materials to clients. It's about failing to use modern communications technology effectively.
SEC Says St. Louis RIA Manipulated Stock Prices ... To Boost His Clients' Returns
After all the recent cases of the SEC cracking down on traders manipulating micro-cap stocks for their own profit, along comes an advisor pushing prices on most of his clients' behalf.
CFB Board Clears Regulatory Hurdle For Demanding Records From Would-Be Members
The SEC has written an official "no action" letter eliminating the threat that CFP Board requests to see advisors' customer complaints will put them in double jeopardy.
Huntington Beach Advisor Accused Of Gross Inflation Of AUM
The SEC has charged a Southern California advisor -- apparently not quite eligible to be a true nationally registered RIA -- of telling his clients and the regulators that he had almost $1.5 billion more under management than he really did.
